Just the folks who protect our liberty getting the shaft. Nothing to see here…
Investigators have uncovered evidence that Sallie Mae overcharged active-duty soldiers on student loans, according to insiders familiar with probes into the student loan company.
The Huffington Post reported that the revelations may threaten Sallie Mae’s lucrative contract with the Department of Education.
“The allegation also may further embarrass the Education Department, already under fire for lax oversight of student loan companies that are paid by taxpayers, yet are alleged to have repeatedly violated federal rules,” the report said.
Probes into the massive firm, which services federal student loans for 5.8 million borrowers, are being conducted by the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), and the Justice Department.
In February, a group of state attorneys general announced that they, too, are investigating Sallie Mae.